Mumbai, May 24: Aftek Infosys will merge its Bangalore-based associate Elven Technologies and US subsidiary V-Soft Inc with itself in the next two years. The merger is likely to generate higher revenues from intellectual property rights. The firm also plans to list its affordable home automation service arm, Digihome Solutions Pvt Ltd, in the next couple of years. Aftek would start with integrating Elven Technologies in the next one year, a release said here today.
Mumbai, May 24: United Breweries (UB) today approved a stock split besides clearing the amended composite scheme of arrangement. The shareholders approved the stock split at the extraordinary general meeting.
Pune, May 24: Thermax Ltd has reported a 77 per cent rise in net profit at Rs 123.3 crore on a revenue of Rs 1,464.9 crore in 2005-06. Exports increased 21 per cent to Rs 307.6 crore. Consolidated revenue for the group rose 29 per cent to Rs 1,606.2 crore.
New Delhi, May 24: Spentex Industries today took over the reins of Indo Rama Textiles by acquiring a 49.03 per cent stake. It also announced a foray into the overseas markets.
New Delhi, May 24: The high-level committee on ECB policy under the finance ministry has said the limit of $500 million per project under the automatic route is sufficient.
